Tag - Compensation

October 2017

Every organization hopes to hire the most skilled candidates with proven track records and excellent reputations. Given the 4.2% unemployment rate, you can bet that those candidates are probably not on job boards right now. You need to utilize some old school recruiting efforts to find them where they’re working and make them excited about a position with your company. That is just the beginning. Even after you’ve managed to engage that candidate, maneuvered through the interview process and [...]

October has arrived and business owners and managers are already thinking about the looming dread that comes with regulating office Halloween costumes. HR departments are facing a different kind of horror when it comes to issues like salary increases and pay equity. The Bureau of Labor Statistics reported that the unemployment rate fell to a new post-crisis low of 4.2%. It is expected to reach 4.0% by early 2018, ahead of projections. In a tight labor market such as [...]

August 2017

Goldman Sachs economists underestimated just how low the unemployment rate would drop this year; so much so that they have actually adjusted their outlook for 2018 to 3.8% from the original 4.1% projection. Typically, wage increases occur when the job market is tight because employers have to pay more to attract and retain workers. Despite a current 4.3% unemployment rate, and a highly competitive job market, wages are rising barely faster than inflation. The most recent Bureau of Labor [...]

July 2017

Conversations about money are awkward with your closest friends and relatives. Having those discussions with your supervisor is even more stress-inducing. Some companies are proactive when it comes to providing reviews once or twice per year, and pay increases in conjunction with the results of those reviews. Even if your employer does conduct periodic reviews or salary audits, you will still need to become comfortable asking for additional compensation. You’ll also have to be able to demonstrate that you’re deserving of [...]

In our experience, most job offers are virtually predetermined because both the employer and the candidate have communicated their needs beforehand. Not every job offer is cut and dry. Sometimes a little back and forth is necessary so that both parties feel satisfied by the outcome. When you initially applied to the position, you were most likely asked to provide your current salary. Some applications will even ask candidates to provide a salary expectation as a means of screening [...]